کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5055486 1371491 2011 4 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Sustainable growth in a model with dual-rate discounting
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Sustainable growth in a model with dual-rate discounting
چکیده انگلیسی

In an important model of growth and pollution proposed by Stokey [Int. Econ. Rev. 39 (1998) 1] neither the rate of economic growth nor the rate of growth of emissions depends on the time preference of the representative agent, which seems somewhat paradoxical. To resolve this paradox, we introduce into Stokey's model the assumption of dual-rate discounting, prove the existence of a sustainable balanced growth optimal path, and show that the growth rates of output and emissions are increasing in the proportion between the consumption and the environmental discount factors of the representative agent.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economic Modelling - Volume 28, Issue 4, July 2011, Pages 2071-2074
نویسندگان
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